Always shop around. You need to make sure your getting the best deal possible.
we are still near historic low rates. They may wiggle up and down for a while, but they will not stay this low forever.
If you plan on staying, lock in a fixed rate and you won't have to worry about an adjustable going up when rates move up.
All the Best,
Jim Sweat, ABR, CRS, GRI, CDPE, e-PRO, ILHM
To answer your question with one word, YES!. Rates are at historic lows. They have crept up a bit lately but overall they are lower than ever. Of course that is a general answer depending on your particular situation, but overall the answer is yes.
A lot of it depends on what rate you are at now, what your balance is, and whether or not you are underwater on your home. The best thing to do is call a lender and give them your information and they can tell you what rate you may be looking at and what your payment will be. Also don't forget there is always a cost to refinance that you will have to pay.
Look at the numbers and see what your savings will be over a projected amount of time. If you are considering moving soon, then most likely you will not save much in refinancing to a lower rate. But if you are planning on staying for a while, the savings can easily be calculated.
If you need a mortgage contact to call to review your options, send me an email and I will give you a couple of lenders to contact.
Thank You and Good Luck ,